Calculate Brighton Inc.'s current ratio using the following information: • Cash: $28,000 . • • • • Accounts receivable: $35,000 Inventory: $42,000 Prepaid insurance: $5,000 Land: $120,000 Accounts payable: $30,000 Notes payable (due in 6 months): $20,000 Bonds payable (due in 10 years): $150,000
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- Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $14,000 36 $503.00 $ $ %abc general accountingComplete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 75,000 $ Principal (loan) 4,000 $ 71,000.00 Rate of interest 5.5 % Years 30 Payment per $1,000 Monthly Martege Payment r
- Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Amount Number of Financed Payments $17,950 48 Monthly Payment $532.47 Finance Charge $7176.56 X Finance Charge per $100 $39.98 X 17.59 APR X %Use the following information from an account analysis statement to answer the following questions: • Collected balance = $500,000 • Service charges = $5,000 • Reserve requirement ratio of 10 percent • Days in month = 30 days • Earnings credit rate = 0.60 percent a. Calculate the monthly earnings credit allowance and the net service charges. b. Solve for the collected balances required and interpret the value. c. Suppose that the earnings credit rate is re-negotiated upward to 0.75 percent. Recalculate the earnings credit allowance, net service charge, and collected balance required. * With complete calculationCalculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Finance Charge per $100 Number of Monthly Payment Amount Finance APR Financed Payments Charge $14,000 $489.00 $ 36 %
- You have taken a loan of $77,000.00 for 20 years at 4.4% compounded quarterly. Fill in the table below: Round all answers to 2 decimal places. Payment number Payment amount Principal Amount Interest Balance 0) $77,000.00 1) $ $ $ $ 2) $ $ $ 3) $ $ $A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years. (i) The interest portion of the final payment is 153.86. (ii) The total principal repaid as of time (n − 1) is 6009.12. (iii) The principal repaid in the first payment is Y. Calculate Y. OA. 500 OB. 470 O C. 480 O D. 490 OE. 510Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $17,950 48 $523.47 $ $ %